| 17°C Dublin

Financial sector outgrows Dublin

THE international financial services sector has spread across 20 counties, contributing €2.1bn in tax to the State annually.

Some 25 years after the International Financial Services Centre (IFSC) was created, the sector accounts for 7.4pc of GDP and just 500 IFSC companies pay 36pc of all corporation tax.

The sector still employs as many people as at the height of the boom, said Willie Slattery, CEO of State Street Ireland, an IFSC company.

The sector has spread far beyond Dublin's docklands, according the Accenture report sponsored by IBEC, with approximately one in three people in the sector working outside Dublin. Salaries in the sector average more than €60,000.